RB Global (NYSE:RBA) Price Target Raised to $120.00 at BMO Capital Markets

RB Global (NYSE:RBA) (TSE:RBA) had its price objective increased by BMO Capital Markets from $116.00 to $120.00 in a research report sent to investors on Wednesday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the business services provider’s stock.

RBA has been the subject of a number of other research reports. Raymond James raised their target price on shares of RB Global from $110.00 to $118.00 and gave the company an “outperform” rating in a research note on Wednesday. Robert W. Baird raised their price target on shares of RB Global from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday. StockNews.com raised shares of RB Global from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada raised their price target on shares of RB Global from $107.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, CIBC reduced their price target on shares of RB Global from $109.00 to $108.00 and set an “outperformer” rating for the company in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.64.

RB Global Price Performance

Shares of NYSE RBA opened at $104.43 on Wednesday. RB Global has a fifty-two week low of $65.99 and a fifty-two week high of $106.90. The company has a 50 day simple moving average of $91.62 and a two-hundred day simple moving average of $88.14. The company has a market capitalization of $19.29 billion, a price-to-earnings ratio of 56.76, a P/E/G ratio of 4.01 and a beta of 0.96. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.17 and a current ratio of 1.28.

RB Global (NYSE:RBA) (TSE:RBA) last announced its earnings results on Tuesday, February 18th. The business services provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.23). RB Global had a net margin of 9.06% and a return on equity of 7.41%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the business posted $0.82 EPS. Analysts expect that RB Global will post 1.96 EPS for the current fiscal year.

RB Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Friday, February 14th. RB Global’s dividend payout ratio (DPR) is presently 63.04%.

Institutional Investors Weigh In On RB Global

A number of large investors have recently added to or reduced their stakes in RBA. Raymond James Financial Inc. bought a new stake in RB Global in the 4th quarter worth approximately $266,148,000. Norges Bank bought a new stake in RB Global in the 4th quarter worth approximately $209,931,000. FMR LLC grew its position in RB Global by 137.5% in the 4th quarter. FMR LLC now owns 2,804,404 shares of the business services provider’s stock worth $252,985,000 after purchasing an additional 1,623,429 shares during the period. Vontobel Holding Ltd. boosted its stake in shares of RB Global by 9.8% during the 4th quarter. Vontobel Holding Ltd. now owns 8,451,146 shares of the business services provider’s stock worth $762,378,000 after acquiring an additional 753,700 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of RB Global by 309.6% during the 3rd quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock worth $65,014,000 after acquiring an additional 610,843 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

RB Global Company Profile

RB Global, Inc, an omnichannel marketplace, provides insights, services, and transaction solutions for buyers and sellers of commercial assets and vehicles worldwide. Its marketplace brands include Ritchie Bros., an auctioneer of commercial assets and vehicles offering online bidding; IAA, a digital marketplace connecting vehicle buyers and sellers; Rouse Services, which provides asset management, data-driven intelligence, and performance benchmarking system; SmartEquip, a technology platform that supports customers' management of the equipment lifecycle; and Veritread, an online marketplace for heavy haul transport solution.